The focus of Wednesday’s tutorial session was a prospective short that triggered at the green line shortly after the class ended.  You’d have needed to be on the three-minute chart to initiate the trade in the way I’d suggested, but here’s the relevant pattern for anyone who’s interested: a=2265.25 (3:03 p.m. ET); B=2261.00 (3:39); and C=2263.00 (3:45). The chart shown provides a bigger picture, with Hidden Pivot levels that can be used Wednesday night and Thursday to go long or short enroute to D=2240.00. That target will be well in play if p=2254.75 gives way, but doesn’t negate the appeal of bottom-fishing at p if you’ve been short from above it or are opening a new position. Incidentally, I posted the same chart in the chat room at 11:51 before the breakdown, along with the following note:  ‘Here is the pattern controlling the E-Mini at the moment. You may rely on it — precisely — if the futures start to fall.’ If you don’t subscribe, you can access the chat room and all of Rick's trading 'touts' instantly by clicking here for a no-risk, two-week trial subscription.

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 -- Published: Thursday, 22 December 2016 | E-Mail  | Print  | Source: GoldSeek.com

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